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Wall Street rallies to have 2nd-best day of the year
US markets registered significant gains yesterday, as the DJ30, SPX500 and NSDQ100 each closed at least 2% higher. The tech sector recovered some of the losses suffered in the previous session, as Microsoft, Amazon and Facebook each climbed 2% or more, while Apple rose more than 3%. The gains are attributed to Fed Chair Jerome Powell saying the Fed might implement measures to counter the ongoing trade war, coupled with reports that Republican lawmakers might block President Trump’s plan to impose new tariffs on Mexican imports.
123.09 3.25 (2.71%)
Today’s highlights: Global markets mostly higher
- Cryptocurrencies continue to decline: After registering tremendous losses yesterday, the crypto market remained on its negative trajectory over the past 24 hours, as 8 of the top 10 cryptos were in the red. At the time of writing, Bitcoin was down more than 1%, trading above the $7,800 mark.
- Asian markets mostly higher: The positive close on Wall Street carried over to the East, as the JPN225 index was up more than 1.8% at the time of writing, joined by the HKG50 index. In contrast, the China50 index was seen lower.
- Oil continues to struggle: The black gold registered losses yesterday, following another increase in US crude oil stockpiles, and a Russian official questioning the need for extending the global supply cut. Igor Sechin, head of Russian state oil producer Rosneft, yesterday was quoted saying “it doesn’t make sense” to cut oil production if the US is able to fill the void and take Russia’s market share.
- Tesla records best day of the year: As part of the market-wide rally on Wall Street yesterday, Tesla registered gains of more than 8%, notching its best day of the year so far. However, TSLA is still the worst-performing stock of the NSDQ100, as it fell 42% this year.
- Volatility expected for USD: The ISM Non-Manufacturing PMI report is due in the US at 14:00 GMT, potentially impacting the greenback.
- FuturePayments shows resilience: While the overall trend in stock markets in May was negative, the FuturePayments CopyPortfolio, which focuses on digital payment stocks and cryptos, showed gains of 4.26% over the past month.
- Europe opens higher: The UK100 opened 4 points higher, the GER30 was up 13 points and the FRA40 opened 9 points higher.
7712.97 204.01 (2.72%)
Stocks earnings releases on 05/06/2019
Stocks earnings releases on 06/06/2019
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
* Cryptoassets are a highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
* Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.
* The information above is not investment advice.
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